Investor Presentaiton

Slovakia - Credit Strengths 2ARDAL 2003 Agentúra pre riadenie dlhu a likvidity 2023 Dobi and Liquidity Management Agency Strengths Credit キ Resilient Economic Growth Sound Fundamentals Fiscal Discipline Steady Debt Dynamics Strong track record of economic growth: expected to remain above eurozone median in 2023 driven by public investment Sustained medium-term growth: Expected increase in private consumption and steady labour market coupled with increased external demand An export-oriented performer with balanced external accounts: moderate current account deficits explained by investment imports Well capitalized banking sector profitable with good asset quality Approved multi-annual expenditure ceilings: fundamental fiscal reform leading to more binding medium-term budgeting Stability Programme targets deficit to decline close to 2% of GDP in 2026 Public debt below 58% of GDP, well below the Euro Area average of 90% of GDP High debt affordability: borrowing costs remain lower than peers, owing to sound debt management and ECB's quantitative easing program Export Oriented Competitive export sectors with high value niches in key industrial sectors (motor vehicles, machinery, equipment, metal products, electronics, etc.) Member of Key Political and Economic Organizations EU and Eurozone membership: supports Slovakia's institutional strength and credible macroeconomic policies EU funds serve as stable, predictable and low-cost source of growth キ 5 Source: MoF, Fitch, IMF

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